A loan of $450 helped to buy raw materials, such as cooking oil, cereals and tubers.

Loraine's story

Loraine, 20, lives south of the city and has a family business preparing food, such as fried food and fast food. Her business was born when she came from the municipality of Malambo to the city of Barranquilla. She was gradually making progress attracting customers, mainly in the casinos located on a commercial corridor on one of the main interdepartmental routes. Now she is applying for her first loan, because she needs to grow and to do that she needs to find suppliers from whom she can buy in volume and on a cash basis, as they offer a better price. This is the reason for this Kiva loan, the first loan that she has taken from the Fundación Mario Santo Domingo. She will use this loan to buy raw materials, such as cooking oil, cereals and tubers. Her investment will be successful because she will get discounts that will increase her profits right away, and also benefit her customers. Her goal for the future is to have her own place where she could operate a big restaurant, offering a variety of dishes that are specialties of the region. While she works to achieve her dreams, she will manage a 15 day rotation of accounts receivable, and her inventory turnover will be every 2 days; these are the financial indicators from which she projects her growth.

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Translated from Spanish by Kiva volunteer Lisa Grobar

Loan details

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Loan details